Property Listing No Longer Available for Sale

5631 Washington Pike, Knoxville, TN

Land for Sale - $1,986,875 - 50 acres


Property Info

CIMLS#951211
Location
  5631 Washington Pike
  Knoxville TN 37918
UpdatedSeptember 6th, 2017
TypeLand
Price$1,986,875
Land50 acres

Property Description

50 acres zoned for up to multi-family 275 units. Priced at $8500/door. Adjoins Legends at Oak Grove, a 264 unit Class A apartment development delivered in 2010. The developable acreage is cleared, whereas areas of heavy topography are wooded, allowing for dense low-rise garden style apartments. The most recently available FEMA Flood Map (dated 3/17/2014) shows no area of the property classified as Flood Risk Areas.

The property shares with Legends at Oak Grove an existing access road (Rising Oak Way) to Washington Pike (Approximately 6,937 VPD), with room for signage on Washington Pike. Rising Oak Way could be extended to the property to McCampell Drive to tie together the front and rear of the property, or could terminate at the new entrance of the 50 acre development site.

The property is zoned RP-1(K) 3-D-12-RZ.This zoning will permit 5.5 units per acre. The site is located in Knoxville


Financials


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